According to IMARC Group’s latest report, titled “Asia Pacific Acetic Acid Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market exhibited stable growth during 2015-2020. Acetic acid, or ethanoic acid, is a clear and colorless organic compound with the chemical formula CH3COOH. It is derived from the bacterial fermentation or oxidation of natural carbohydrates. Acetic acid is an important chemical reagent and industrial chemical that is utilized in the production of polyvinyl acetate for wood glue, cellulose acetate for photographic film, synthetic fibers, etc. Diluted acetic acid is also used in descaling agents and as a condiment and an acidity regulator. It also produces metal acetate, volatile organic acetate, vinyl acetate monomer (VAM), etc., and is extensively utilized across various industries for textile manufacturing, printing, making photographic films, etc.
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The rising number of construction activities is one of the key factors driving the Asia Pacific acetic acid market. Moreover, the increasing product demand in the production of coatings, greases, polyesters, etc., is further catalyzing the market growth. Besides this, the widespread requirement of acetic acid in the manufacturing of vinegar is acting as another significant growth-inducing factor. Additionally, the elevating demand for purified terephthalic acid (PTA) in the packaging and textile industries is augmenting the regional market. Apart from this, the growing usage of ester solvents in the paints and coatings industry is also positively influencing the market growth. Furthermore, the development of new and novel separation and purification technologies is anticipated to fuel the Asia Pacific acetic acid market in the coming years. Looking forward, IMARC Group expects the Asia Pacific acetic acid market to exhibit moderate growth during 2021-2026.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Breakup by Application:
- Ethyl Acetate
- Butyl Acetate
Breakup by End Use Industry:
- Plastics & Polymers
- Food & Beverage
- Inks, Paints & Coatings
Breakup by Country:
- South Korea
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Key highlights of the report:
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
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